Question 16 (5 points) Choose the answer. A check that has been issued but not reported on a bank statement is called a(n): O blank endorsement O dishonored check O voided check O outstanding check Previous Page Next Page Page 16 of 20Question 17 (5 points) Choose the answer. An employer is required to pay all the following taxes except: O Federal income tax O Medicare tax Social Security tax unemployment tax Previous Page Next Page Page 17 of 20Question 18 (5 points) Choose the answer. The information used to prepare payroll checks is taken from a(n): OW-2 form O payroll register Oemployee earnings record O income tax withholding table Previous Page Next Page Page 18 of 20Question 19 (5 points) Choose the answer. Why is the amount of sales tax collected recorded in a liability account? O You owe the amount collected to the governing entity who enforces sales tax laws. O It is an expense you have to account for. O It will be recorded on your business taxes. You have to pay it back to the owner. Previous Page Next Page Page 19 of 20Question 20 (5 points) Choose the answer. A form used to record transactions in chronological order is called a(n): O entry O invoice O journal O receipt Previous Page Next Page Page 20 of 20|Question 1 [1 point) Choose the answer. The Cash account, which is the first asset account, uses which account number? 0 101 O 100 Previous Page Next Page Page 1 of 5 Question 2 [1 point} Choose the answer. Which document shows all the changes to a single account in one place? /_\\ '\\_,' ledger /_\\ kg; chart of accounts 0 journal I/ \\l L, column Previous Page Page 2 Of 5 Question 3 [1 point} Choose the answer. The two steps to opening an account in the general ledger are: 0 writing the date of entry and the journal page number /'_\\ . . '\\_/' wrltlng the account name and the account number /_\\ '\\_/' writing the account name and recording the account balance 0 recording the debit or credit transaction and account balance Previous Page Page 3 Of 5 Question 4 (1 point) Choose the answer. The first digit in an account number indicates: /'_\\ '\\_,' that the account belongs in the revenue division of the general ledger (3' that the account is an asset {3' the general ledger division of that account C} the location of the account in the general ledger Previous Page Page 4 0f 5 Question 5 (1 point) Choose the answer. When you are adding a new account between the account numbers 510 and 520, the new account number will be: O 515 O 517 511 513 Previous Page Next Page Page 5 of 5Question 1 [1 point) Choose the answer. Match the number to the steps to posting individual amounts in the general ledger to put them in the correct sequence. Write the new account balance. Write thejournal page 1. 1 number in the Post. Ref. column of the ledger. 2. 2 Write the account number in the Post. Ref. column of the journal. Write the date of the transaction. 5_ 5 Write the debit or credit amount. (:3! CA.) Question 1 (1 point) Choose the answer. Which column total(s) of a journal do you post to the general ledger? Account Title column special amount columns O General credit column O General debit column Previous Page Next Page Page 1 of 3Question 2 [1 point) Choose the answer. When does an account balance reflect a debit balance in a ledger account? 0 when debits in the account exceed the credits /_'\\ . . U when the speCIal amount Sales column Is posted /_'\\ .le when you post liability account balances /_'\\ .le when credits in the account exceed the debits Previous Page Page 2 Of 3 Question 3 (1 point) Choose the answer. What posting reference do you use for General column totals in a journal? O the account number O a checkmark O an asterisk No posting reference is needed because the amounts were posted individually. Previous Page Next Page Page 3 of 3Question 1 (1 point) Choose the answer. Match the term with its definition. I. I. I transferring information from the journal to the general ledger an additional journal entry to correct an accounting error a group of accounts symbol or account number to indicate that the entry has been posted a ledger containing all the main accounts needed to prepare financial statements correcting entry posting reference ledger posting general ledger Question 1 (3 points) Choose the answer. What does a checkmark in parentheses below a General column total indicate? (3' that the total is posted to the ledger (3' that you are nished posting the total C) that the total does not need to be posted (3' that you do not post the amounts in the column individually Question 2 [3 points} Choose the answer. If the Supplies account is the second asset account, it would be numbered: O 110 O me O 115 C) 120 Previous Page Page 2 Of 20 Question 3 (3 points) Choose the answer. Which form summarizes all the changes to a single account in one place? O chart of accounts O account number O journal O ledger Previous Page Next Page Page 3 of 20Question 4 (3 points} Choose the answer. The two steps to opening an account in the general ledger are: /_'\\ '\\_/' writing the account name and recording the account balance /_'\\ . . IL) writing the account name and the account number C} writing the date of entry and the journal page number /_\\ U recording the debit or credit transaction and account balance Previous Page Page 4 Of 20 Question 5 [3 points) Choose the answer. The first digit in an account number indicates: O that the account belongs in the revenue division of the general ledger O the location of the account in the general ledger O the general ledger division of that account (3' that the account is a balance sheet account Previous Page Page 5 Of 20 Question 6 (3 points) Choose the answer. When you are adding a new account between the account numbers 330 and 340, the new account number will be: O 337 O 331 335 339 Previous Page Next Page Page 6 of 20Question F {3 points} Choose the answer. Which of the following is the last step in posting individual amounts to a general ledger? 0 Write the account number in the Post. Ref. column of the journal. {3' Write the debit or credit amount. (3' Write the date of the transaction. 0 Write thejournal page number in the Post. Ref. column of the ledger. Previous Page Page 7'" 0f 20 Question 8 {3 points} Choose the answer. Which column totalls) of a journal do you post to the general ledger? /_\\ . kw) General credit column /_\\ . '\\_/' General debit column /_\\ . '\\_/' Account Title column /_\\ + '\\_/l special amount columns Previous Page Page 8 Of 20 Question 9 (3 points} Choose the answer. When does an account balance reflect a debit balance in a ledger account? C) when credits in the account exceed the debits /'_\\ IL; when you post liability account balances /'_\\ IL; when the special amount Sales column is posted 0 when debits in the account exceed the credits Previous Page Page 9' Of 20 Question 10 {3 points} Choose the answer. What posting reference do you use for General column totals in a journal? /_\\ '\\_/' the account number /_'\\ '\\_/' a checkmark /_"\\ RU} an asterisk O No posting reference is needed because the amounts were posted individually. Previous Page Page 10 Of 20 Question 11 (3 points) Choose the answer. An additional journal entry used to correct an accounting error is called a(n): O posting entry O error entry O correcting entry reverse entry Page 11 of 20 Previous Page Next PageQuestion 12 (3 points) Choose the answer. If posting to a ledger is interrupted, how do you know where to resume posting? O on the first journal line with a blank Post. Ref. column O start at the beginning of the journal page find the last ledger entry O none of these Previous Page Next Page Page 12 of 20Question 13 (3 points) Choose the answer. Separate amounts in the Cash columns of a journal are: O not included in the total O posted individually O not posted individually grouped for easier posting Previous Page Next Page Page 13 of 20Question 14113 points} Choose the answer. A number in the Post. Ref. column of a journal indicates the: /_'\\ '\\_/' source document C) account where that amount is posted C] date of the entry C) journal page of the entryr Previous Page Page 14 Of 20 Question 15 {3 polntsl Choose the answer. Posting references in a journal are: /_\\ L) posted last when posting in a ledger (3' the account numbers for the amount posted 0 located in the Post. Ref. column 0 all of the above Previous Page Page 15 Of 20 Question 16 {3 points) Choose the answer. When is a correcting entry necessary? /_'\\ + '\\_,J when you misspell a word /'_'\\ K-) when you transpose a number /_\\ ta) when you record the wrong source document 0 when a journal entry was recorded incorrectly and was posted to the ledger Previous Page Page 16 Of 20 Question 1? {3 points} Choose the answer. When journaling a correcting entry, what do you debit in the transaction that incorrectly debited Electric Expense instead of Utilities Expense? /_'\\ '\\_/' Cash /_'\\ + '\\_,J Miscellaneous Expense /_'\\ . . . '\\_,' Utilities Expense /_'\\ . LU) Electric Expense Previous Page Page 1? Of 20 Question 18 (3 points} Choose the answer. When journaling a correcting entry, what do you credit in the transaction that incorrectly debited Electric Expense instead of Utilities Expense? (3' Cash (3' Electric Expense 0 Utilities Expense /_'\\ + L; Miscellaneous Expense Previous Page Page 18 Of 20 Question 19 {3 points} Choose the answer. When journaling a correcting entry, what do you credit in the transaction that incorrectly debited Accounts Payable, Roger's Electric instead of Accounts Payable, Electric Current Company? C] Cash C] Accounts Payable, Electric Current Company C) Sales (3' Accounts Payable, Roger's Electric Previous Page Page 19 Of 20 Question 20 {3 points} Choose the answer. When journaling a correcting entry, what do you debit in the transaction that incorrectly debited Accounts Payable, Roger's Electric instead of Accounts Payable, Electric Current Company? O Accounts Payable, Roger's Electric O Cash 0 Sales 0 Accounts Payable, Electric Current Company Previous Page Nc-xt Page Page 20 Of 20